King Luther Capital Management Corp lowered its position in The Allstate Co. (NYSE:ALL – Free Report) by 4.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 264,040 shares of the insurance provider’s stock after selling 12,122 shares during the quarter. King Luther Capital Management Corp owned approximately 0.10% of Allstate worth $28,791,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of ALL. Davis R M Inc. lifted its stake in Allstate by 14.2% in the second quarter. Davis R M Inc. now owns 2,519 shares of the insurance provider’s stock valued at $275,000 after acquiring an additional 314 shares during the last quarter. ProShare Advisors LLC increased its position in Allstate by 12.4% during the second quarter. ProShare Advisors LLC now owns 71,475 shares of the insurance provider’s stock worth $7,794,000 after buying an additional 7,893 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in Allstate by 2.4% during the second quarter. Commonwealth Equity Services LLC now owns 114,176 shares of the insurance provider’s stock valued at $12,450,000 after buying an additional 2,633 shares in the last quarter. Johnson Investment Counsel Inc. raised its holdings in Allstate by 6.5% during the second quarter. Johnson Investment Counsel Inc. now owns 18,160 shares of the insurance provider’s stock valued at $1,980,000 after buying an additional 1,112 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC lifted its position in shares of Allstate by 6.9% in the second quarter. Thompson Siegel & Walmsley LLC now owns 617,884 shares of the insurance provider’s stock worth $67,374,000 after buying an additional 40,114 shares during the last quarter. 77.23% of the stock is owned by institutional investors and hedge funds.
Allstate Trading Up 0.3 %
Shares of ALL opened at $134.64 on Tuesday. The stock has a fifty day moving average price of $120.92 and a two-hundred day moving average price of $113.98. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.35 and a current ratio of 0.35. The company has a market cap of $35.23 billion, a price-to-earnings ratio of -16.98 and a beta of 0.52. The Allstate Co. has a 52-week low of $100.57 and a 52-week high of $142.15.
Allstate Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Thursday, November 30th will be given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Wednesday, November 29th. Allstate’s payout ratio is -44.89%.
Analysts Set New Price Targets
ALL has been the topic of a number of recent analyst reports. Jefferies Financial Group raised their price objective on Allstate from $117.00 to $119.00 in a research note on Friday, October 6th. Raymond James raised their target price on shares of Allstate from $145.00 to $155.00 and gave the company a “strong-buy” rating in a research note on Monday, November 6th. Morgan Stanley restated an “equal weight” rating and set a $117.00 price target on shares of Allstate in a report on Tuesday, August 1st. JPMorgan Chase & Co. cut their price objective on Allstate from $162.00 to $154.00 and set an “overweight” rating for the company in a research report on Wednesday, August 2nd. Finally, Citigroup raised their target price on Allstate from $135.00 to $156.00 and gave the company a “buy” rating in a report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Allstate presently has an average rating of “Moderate Buy” and an average target price of $135.50.
The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; other personal lines products; and commercial lines products under the Allstate and Encompass brand names.
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